Supreme Infra lists with 75% premium on BSE

Supreme Infra lists with 75% premium on BSE

New Delhi: Supreme Infrastructure India (SIIL) on Thursday got listed on the Bombay Stock Exchange with a premium of 75% over its issue price of Rs108.

The scrip opened at Rs189 on BSE and touched an intra-day high of Rs224 within minutes of listing and was trading at Rs191.10.

SIIL has listed its 1.38 crore shares at an issue price of Rs108 each on bourses on Thursday.

The Initial Public Offer (IPO) of the company had received good response from investors and was subscribed over 52 times.

The company had offered 34.75 lakh shares in the IPO in a price-band of Rs95-108 per share.

SIIL plans to use the proceeds for funding its expansion plans and meet its long-term capital requirements. The funds generated would also lead to an increase in balance sheet size, which would help the company pre-qualify to bid for larger construction projects.

The company is engaged in construction of roads and highways. It has bagged the Kurla-Thane railway line expansion project, which is funded by the World Bank.